The global gas insulated switchgear market is estimated at USD 18.48
billion in 2018 and is projected to grow at a CAGR of 8.73% to reach USD
28.09 billion by 2023.

This growth is primarily due to rise in renewable power generation,
increasing investments in the transmission & distribution
infrastructure, escalating energy demand, limitations of space
availability in densely populated urban areas, and government
initiatives towards improving electricity access.

Medium voltage gas insulated switchgear is expected to grow at the
highest CAGR from 2018 to 2023. The market is primarily driven due to
the rapid improvement in the power distribution sector through the
implementation of smart grid and smart metering technology. This
equipment is mainly used by the core sector, power generation,
infrastructure, transportation, and distribution system industries. The
medium voltage gas insulated switchgear segment is further segmented
into primary distribution and secondary distribution.

Asia Pacific is expected to account for the largest market share of the
global gas insulated switchgear market in 2018. This trend is projected
to continue till 2023. It is the most populated region in the world and
consequently witnesses a high demand for electricity. Countries such as
China, Japan, and India are investing in their grid expansion projects
to increase distribution grid reliability. China accounted for the
largest share of the gas insulated switchgear market in Asia Pacific in
2016 and has the highest installed generation and distribution capacity.